Yellen Speech: Gradual rate hikes are still warranted
|Janet Yellen, Chairwoman of the Federal Reserve, continues to make comments on monetary policy, with key headlines, via Reuters, found below:
- Fund rate will not have to rise much further to get to neutral stance
- Gradual rate hikes are still warranted
- Inflation expected to move up, stabilize around 2%
- Healthy jobs market reflected in steady participation rate
Key headlines:
CME Group FedWatch's December hike probability jumped above 70%
Following the release of the FOMC statement and the updated economic projections report, the probability of a 25 basis points rate hike in December jumped to 70.6% from 56% a day ago.
EUR/USD tumbles below 1.1950 after FOMC decision as USD soars
EUR/USD dropped below 1.1980 after the release of the FOMC statement. The greenback gain momentum across the board as US bond yields hit fresh daily highs.
About Janet Yellen
Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.